Latest news with #BMPS
Reuters
7 days ago
- Business
- Reuters
Italy economy minister says would quit if defied on UniCredit-BPM deal
ROME, May 28 (Reuters) - Italian Economy Minister Giancarlo Giorgetti said on Wednesday he would resign if he were overruled on "golden power" conditions the government has tied to UniCredit's ( opens new tab bid for smaller bank Banco BPM ( opens new tab. Giorgetti was speaking in the Senate after reports in Italian newspapers, citing government sources, suggested that changes in the conditions were possible, but were being resisted by the minister. He told senators that if there was any divergence on UniCredit-BPM between his position and that of Prime Minister Giorgia Meloni, he would quit immediately. "If there were the slightest misalignment (with Meloni) you wouldn't find a resignation threat, but the resignation itself. You don't announce your resignation, you do it," Giorgetti said. UniCredit's swoop on BPM, which derailed Rome's plans to combine BPM with state-backed Monte dei Paschi di Siena ( opens new tab, is part of a wave of proposed takeover bids rocking Italian banking. In order to clear the deal, Meloni's administration has given UniCredit nine months to cease its activities in Russia and asked it not to reduce BPM's loan-to-deposit ratio for five years. Giorgetti said the government was focused on monitoring compliance with the golden power conditions, and its response to issues raised by both Banco BPM and UniCredit would be fully coordinated between the Treasury and Meloni's office. UniCredit has appealed to an administrative court against the terms set by the government, and its CEO Andrea Orcel said on Tuesday it could let the offer lapse because it was no longer financially advantageous under the conditions imposed. Banco BPM also said it would appeal to an administrative court against a decision by Italian market regulator Consob to suspend the buyout offer for 30 days, to give UniCredit time to negotiate the golden power terms with the government. "They all go to court in this country and things get messy," Giorgetti said.
Reuters
22-05-2025
- Business
- Reuters
Banco BPM urges UniCredit to drop bid if it can't meet govt's demands
MILAN, May 22 (Reuters) - Banco BPM ( opens new tab on Thursday urged suitor UniCredit ( opens new tab to abandon its buyout offer, given the bank led by CEO Andrea Orcel has told authorities it cannot comply with the conditions Rome has imposed to authorise the BPM takeover. UniCredit on Wednesday secured from market regulator Consob a 30-day suspension of its tender offer for Banco BPM as it seeks to persuade the government the conditions cannot be met in their current form. A government source told Reuters on Wednesday the government has no intention of altering its demands. Banco BPM said UniCredit had not made clear to investors what it had told authorities in Rome instead, meaning the conditions Italy has imposed in the name of national security interests cannot be implemented. Such a predicament "which was also never disclosed by UniCredit to the market, should in itself cause the offer to lapse", the bank said. UniCredit has raised objections to the prescriptions and engaged with the government officials who are in charge of monitoring they are implemented in an effort to prove it is impossible to comply. Orcel has antagonised Italy's government by swooping on BPM in November, a move that thwarted Rome's efforts to encourage a tie-up between BPM and state-backed Monte dei Paschi di Siena ( opens new tab.
Reuters
09-05-2025
- Business
- Reuters
Mediobanca suitor Monte dei Paschi beats forecasts with 24% profit rise
MILAN, May 9 (Reuters) - State-backed Monte dei Paschi di Siena ( opens new tab on Friday posted a larger-than-forecast 24% rise in first-quarter profit as it pursues a hostile takeover of rival Mediobanca ( opens new tab in the consolidation wave sweeping Italian finance. Mediobanca, which has announced its own buyout offer for wealth manager Banca Generali ( opens new tab in an effort to thwart Monte dei Paschi's (MPS) bid, also reported better than expected results on Friday. MPS said net profit came in at 413 million euros ($464 million), well above a 341 million euro forecast in an analyst consensus gathered by the bank, as revenues held up and costs and loan loss provisions declined. Revenues were flat year-on-year at 1 billion euros, topping expectations, with higher net fees offseting an 8% decline in income from the gap between lending and deposit rates. Fees from wealth management and advisory in particular shot up 21% on a quarterly basis. The core capital ratio strengthened further to 19.6% of assets, one of the highest in the sector. ($1 = 0.8908 euros)
Time of India
01-05-2025
- Entertainment
- Time of India
Goblin rejoins team Soul before BMPS 2025
(Image via crazyyy_soul's 'X' Account) In the major roster shakeup, Goblin (Harsh Paudwal), the star BGMI player, has officially returned to team iQOOSou or Team Soul . Departing from Likitha Esports on April 29, he didn't take much time to reunite with his previous squad. The reunion, announced on May 1, 2025, happened just weeks before Battlegrounds Mobile Pro Series (BMPS) 2025. It marks the return of Goblin after his year-long stint with the other squads. Here is all you need to know about his return. Goblin comes back to Team Soul — Soul_esportsgg (@Soul_esportsgg) by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Navio porta-contentores encontra piratas: veja o que faz o capitão! Happy in Shape Undo The return of Goblin to Team Soul is not just nostalgia but seems a tactical play. As per the sources, Goblin denied many other teams, like Saumraj and RNTX, who approached him as a replacement for their players. He was appreciated for being true to the team, For it, he was even called a 'true SouL blood,' by a fan. The team confirmed his return with a post made on X, declaring, "Once a SouLdier, always a SouLdier." The 2022 BMPS MVP previously led the team to victory, cementing his reputation and earning honors. Now, he will team up with the retained players— Manya, Rony, and Nakul. The reshuffle follows the lackluster 15th-place finish of Soul at BGIS 2025. It signals a push of the team to a strategic depth and firepower. The timing of Goblin's return to Team Soul is critical. BMPS 2025 will begin on May 22, 2025. The management of the team is banking on the synergy of Goblin under the leadership of Manya. His familiarity with the team's playbook can streamline the late-game decisions and the rotations. Fans are already buzzing about the potential of the duo to replicate the magic of 2022, especially with Skyesports Champions 2024 serving as a warm-up between May 6 and May 18, 2025. What does it mean for Team Soul? The revamped roster of Team Soul faces some immediate tests, such as Skyesports Champions 2024 and BMPS 2025. The experience of Goblin in high-pressure tournaments, along with the clutch potential, makes him a game-changer for the team. All seem optimistic about the return; after all, the last time Goblin wore Soul's jersey, they lifted the BMPS trophy. So, if history repeats, the reunion can mark the beginning of another championship era. With ₹2 crore prize pool of BMPS 2025, Team Soul is aiming to reclaim its dominance in BMPS. But only time can tell whether or not the reunion will reignite the championship spark. However, the one thing that remains certain is that with BGMI Goblin return , the upcoming games have got a lot more thrilling now.
